- M&C Saatchi
- 09 March 2026 10:29:53
Source: Sharecast
The AIM-traded marketing services group said chief executive Zaid Al-Qassab would step down from his role and from the board by mutual agreement on 31 March.
It said it planned to begin a formal search for a successor.
Until a new chief executive was appointed, non-executive chair Dame Heather Rabbatts would assume the role of executive chair on an interim basis.
An operating board made up of members of the company’s senior leadership team would be established during the transition, headed by Rabbatts.
“On behalf of the board, I would like to thank Zaid for his contribution during his time at M&C Saatchi,” Rabbatts said.
“He leaves the company with a strong and more integrated operating model, creating cultural power for our clients by combining world-leading creativity, global reach, and specialist capabilities. We wish him all the best for the future.
“In my role as interim executive chair, I will be focused on driving our strategy and shareholder value, and supporting our talented team to continue to deliver best-in-class solutions for our clients through our diverse portfolio of specialisms.”
The company also announced the appointment of Vinodka ‘Vin’ Murria as non-executive director and deputy chair, alongside Nicholas Shott as an independent non-executive director, both effective immediately.
Murria, a substantial shareholder and former director of M&C Saatchi, currently serves as chair of AdvancedAdvT and as a non-executive director at Bunzl.
Shott would meanwhile bring more than three decades of financial services experience, including senior roles at Lazard, and currently chairs reinsurer Conduit Holdings.
“As a long-term shareholder, I am looking forward to working with Heather and the board to support the delivery of the company's strategy and to drive the business forward,” Murria said.
“M&C Saatchi is a special business that has significant exposure to high-growth sectors through its diverse portfolio of specialisms with huge potential for value creation across all its constituent parts.”
In connection with Murria’s appointment, AdvancedAdvT confirmed it did not intend to make an offer for M&C Saatchi.
Under the Takeover Code, the company and parties acting in concert with it, including Murria, are restricted from making a bid unless certain conditions are met or the Takeover Panel grants consent.
As of 6 March, Murria held 14,437,452 shares in M&C Saatchi, representing 11.8% of the company’s issued share capital, while AdvancedAdvT held 12 million shares, or about 9.8%.
Separately, M&C Saatchi said it had launched a share buyback programme worth up to £4.5m, or a maximum of 12,225,746 shares.
The programme would be executed by broker Panmure Liberum, which would purchase shares on the London Stock Exchange on a discretionary basis within preset parameters.
M&C Saatchi said the buyback reflected the company’s view that its balance sheet strength provided scope to repurchase shares under its capital allocation policy.
The programme would run until the earliest of the maximum amount being reached, the conclusion of the company’s 2026 annual general meeting if the buyback authority was not renewed, or 15 September.
Shares acquired under the programme would be cancelled.
At 1009 GMT, shares in M&C Saatchi were up 4.2% at 124p.
Reporting by Josh White for Sharecast.com.